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Drivers of Structural Change in Cross-Border Banking since the Global Financial Crisis

The paper analyzes the effects of changes to regulatory policy and to monetary policy on cross-border bank lending since the global financial crisis. Cross-border bank lending has decreased, and the home bias in the credit portfolio of banks has risen sharply, especially among banks in the euro area. Our results suggest that expansionary monetary policy in the source countries – as measured by the ...

Planning and Optimization of a Fast-Charging Infrastructure for Electric Urban Bus Systems

The deployment of battery-powered electric bus systems within the public transportation sector plays an important role toincrease the energy efficiency and to abate emissions. Raising attention is given to bus systems comprising fast -charging technology.This concept requires a comprehensive infrastructure to equip bus routes with charging points. The number of charging points in turnhas significant ...

Monetary Policy, Bank Bailouts and the Sovereign-Bank Risk Nexus in the Euro Area

The paper analyses the empirical relationship between bank risk and sovereign credit risk in the euro area. Using structural VAR with daily financial markets data for 2003-13, the analysis confirms two-way causality between shocks to sovereign risk and bank risk, with the former being overall more important in explaining bank risk, than vice versa. The paper focuses specifically on the impact of non-standard ...

Moving up a Gear: The Impact of Compressing Instructional Time into Fewer Years of Schooling

Policy-makers face a trade-off between the provision of higher levels of schooling and earlier labour market entries. A fundamental education reform in Germany tackles this trade-off by reducing high school by one year while leaving the total instructional time unchanged. Employing administrative data on all high school graduates in 2002-2013 in Germany, we exploit both temporal and regional variation ...

Socialisation in Early Childhood: Biological, Psychological, Linguistic, Sociological and Economic Perspective

The Feminization of Occupations and Change in Wages: A Panel Analysis of Britain, Germany and Switzerland

In the last four decades, women have made major inroads into occupations previously dominated by men. This paper examines whether occupational feminization is accompanied by a decline in wages: Do workers suffer a wage penalty if they remain in, or move into, feminizing occupations? We analzye this question over the 1990s and 2000s in Britain, Germany and Switzerland, using longitudinal panel data ...

Bubbles and Monetary Policy: To Burst or Not to Burst?

The question of whether monetary policy should target asset prices remains a contentious issue. Prior to the 2007/08 financial crisis, central banks opted for a wait-and-see approach, remaining passive during the build-up of asset price bubbles but actively seeking to stabilize prices and output after they burst. The macroeconomic and financial turbulence that followed the subprime housing bubble has ...

Monetary Policy, Bank Bailouts and the Sovereign-Bank Risk Nexus in the Euro Area

The paper analyses the empirical relationship between bank risk and sovereign credit risk in the euro area. Using structural VAR with daily financial markets data for 2003-13, the analysis confirms two-way causality between shocks to sovereign risk and bank risk, with the former being overall more important in explaining bank risk, than vice versa. The paper focuses specifically on the impact of non-standard ...

CALL FOR PAPERS:  "The 2020 Strategy Experience: Lessons for Regional Cooperation, EU Governance and Investment" - contribution to a Special Issue of the Climate Policy journal

Two ongoing political processes are set to shape the future of EU energy and climate policy. On the one hand, following up on the 2020 Strategy, the European Commission and the Member States seek to move beyond 2020 and design a 2030 Climate and Energy Framework that will address climate change and energy transformation in a manner acceptable for all the parties. On the other hand, partly as a consequence ...

Why Did Self-Employment Increase so Strongly in Germany?

Germany experienced a unique rise in the level of self-employment in the first two decades following unification. Applying the non-linear Blinder-Oaxaca decomposition technique, we find that the main factors driving these changes in the overall level of self-employment are demographic developments, the shift towards service sector employment, and a larger share of population holding a tertiary degree. ...